Arkansas § 4-27-1801 Share exchange

Arkansas Statutes

§ 4-27-1801 — Share exchange

(a)A corporation may acquire all of the outstanding shares of one (1) or more classes or series of another corporation if the board of directors and shareholders if required by § 4-27-1802 of each corporation approve the exchange.

(b)The plan of exchange shall set forth:

(1)The name of the corporation whose shares will be acquired and the name of the acquiring corporation;

(2)The terms and conditions of the exchange; and (3) The manner and basis of exchanging the shares to be acquired for:

(A)Shares, obligations, or other securities of the acquiring corporation or any other corporation; or (B) Cash or other property.

(c)The plan of exchange may set forth other provisions relating to the exchange.

(d)This section does not limit the power of a corporation to acquire all or part of the

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A corporation may acquire all of the outstanding shares of one (1) or more classes or series of another corporation if the board of directors and shareholders if required by § 4-27-1802 of each corporation approve the exchange. (b) The plan of exchange shall set forth: (1) The name of the corporation whose shares will be acquired and the name of the acquiring corporation; (2) The terms and conditions of the exchange; and (3) The manner and basis of exchanging the shares to be acquired for: (A) Shares, obligations, or other securities of the acquiring corporation or any other corporation; or (B) Cash or other property. (c) The plan of exchange may set forth other provisions relating to the exchange. (d) This section does not limit the power of a corporation to acquire all or part of the shares of one (1) or more classes or series of another corporation through a voluntary exchange or otherwise.

Arkansas § 4-27-1801 (Share exchange) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.